– Free Cash Flow¹ of $79.9 Million for 2010, up from $64.8 Million
in 2009 –
– Long-Term Debt Reduced by $96.3 Million, or 21%, During 2010 –
– Long-Term Leverage Ratio Reduced to 3.35x on Net Debt² Basis –

LodgeNet Interactive Corporation (Nasdaq:LNET) today reported annual 2010 revenue of $452.2 million compared to $484.5 million in 2009. Net loss attributable to common stockholders was $(17.4) million or $(0.71) per share (basic and diluted) for 2010 compared to $(13.3) million or $(0.59) per share (basic and diluted) for 2009. The 2009 net loss included a $9.3 million, or $0.41 per common share, gain related to the acquisition of $31.5 million of our outstanding debt. Without considering that one-time benefit, the net loss attributable to common stockholders improved 29% in 2010 as compared to 2009. LodgeNet also reported $79.9 million in free cash flow for 2010, a 23% increase as compared to $64.8 million for the prior year. At the end of the year, the Company had reduced its long-term leverage ratio to 3.35 times on a net debt basis versus a covenant of 3.50 times, and a net debt leverage ratio of 3.68 times one year ago.

Click here to review the results for Fourth Quarter and Full Year 2010.

(1) Free Cash Flow, a non-GAAP measure, is defined by the Company as cash provided by operating activities less cash used for investing activities, including growth related capital.

(2) Net Debt, a non-GAAP measure, is defined by the Company as total outstanding debt less cash on the balance sheet.